Grace Kim

Aug 1, 2024 | lexology.com | Nicola Martin |Erin Kidd |Grace Kim

On 6 May 2024, the Defence Amendment (Safeguarding Australia's Military Secrets) Act 2024 (Cth) (SAMS Act) introduced new provisions in the Defence Act 1903 (Cth) that prohibit:Former Australian defence personnel from performing any work for foreign military organisations or government bodiesAustralian citizens and permanent residents performing certain work for foreign military organisations or government bodiesThese prohibitions will apply to work performed on and from 6 August 2024.

Mar 4, 2024 | lexblog.com | Lawrence Cunningham |Matthew Bisanz |Grace Kim

Most legal entities like corporations have officers and directors who, together, run the business. Directors sit on the board of directors and collectively govern and oversee the entity. In contrast, officers generally implement the board’s vision and manage the day-to-day operations of the business. While it’s widely understood that the roles and responsibilities of officers and directors are distinct from each other, regulators have often merged or confused the concepts.

Feb 26, 2024 | lexblog.com | Brad Resnikoff |Gina M. Parlovecchio |Matthew Bisanz |Grace Kim |Grace Kim

On February 7, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking on certain US residential real estate transactions (“2024 NPRM”). The 2024 NPRM would require certain professionals involved in real estate closings and settlements to report information to FinCEN about non-financed transfers of residential real estate to legal entities or trusts.